TD Asset Management Inc Reduces Stock Holdings in Halliburton Company $HAL

TD Asset Management Inc decreased its holdings in Halliburton Company (NYSE:HAL) by 1.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 387,324 shares of the oilfield services company’s stock after selling 6,145 shares during the quarter. TD Asset Management Inc’s holdings in Halliburton were worth $7,894,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in Halliburton by 450.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 29,941,771 shares of the oilfield services company’s stock valued at $759,623,000 after buying an additional 24,506,472 shares during the period. AQR Capital Management LLC lifted its position in Halliburton by 217.4% during the first quarter. AQR Capital Management LLC now owns 4,641,111 shares of the oilfield services company’s stock valued at $116,770,000 after buying an additional 3,178,746 shares during the period. Nuveen LLC purchased a new position in Halliburton during the first quarter valued at $72,637,000. Pzena Investment Management LLC lifted its position in Halliburton by 134.7% during the second quarter. Pzena Investment Management LLC now owns 3,734,069 shares of the oilfield services company’s stock valued at $76,100,000 after buying an additional 2,142,939 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in Halliburton by 292.5% during the second quarter. Assenagon Asset Management S.A. now owns 2,807,084 shares of the oilfield services company’s stock valued at $57,208,000 after buying an additional 2,091,872 shares during the period. Hedge funds and other institutional investors own 85.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on HAL shares. Piper Sandler lowered Halliburton from an “overweight” rating to a “neutral” rating and set a $25.00 price objective for the company. in a research report on Monday, July 28th. Citigroup reissued a “buy” rating on shares of Halliburton in a research report on Tuesday, October 14th. Melius started coverage on Halliburton in a research report on Wednesday, August 20th. They set a “buy” rating and a $41.00 price objective for the company. Zephirin Group lifted their price target on Halliburton from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company lowered their price target on Halliburton from $28.00 to $26.00 and set an “overweight” rating for the company in a research report on Wednesday, July 23rd. Fourteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $30.26.

Halliburton Price Performance

NYSE HAL opened at $22.25 on Monday. Halliburton Company has a one year low of $18.72 and a one year high of $32.57. The stock has a 50-day moving average of $22.63 and a 200 day moving average of $21.65. The company has a market capitalization of $18.97 billion, a price-to-earnings ratio of 10.40 and a beta of 1.02. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 2.00.

Halliburton (NYSE:HAL) last released its quarterly earnings results on Tuesday, July 22nd. The oilfield services company reported $0.55 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.55. The business had revenue of $5.51 billion during the quarter, compared to the consensus estimate of $5.43 billion. Halliburton had a return on equity of 21.45% and a net margin of 8.37%.The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.80 EPS. On average, sell-side analysts forecast that Halliburton Company will post 2.64 EPS for the current year.

Halliburton Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Wednesday, September 3rd. Halliburton’s payout ratio is currently 31.78%.

About Halliburton

Halliburton Company provides products and services to the energy industry worldwide. It operates through two segments, Completion and Production, and Drilling and Evaluation. The Completion and Production segment offers production enhancement services that include stimulation and sand control services; cementing services, such as well bonding and casing, and casing equipment; and completion tools that offer downhole solutions and services, including well completion products and services, intelligent well completions, and service tools, as well as liner hanger, sand control, and multilateral systems.